The Iron Sand Project consists of 4 concessions totaling over 14,000 hectares of minable area. The iron sand ores also utilize the easiest mining method of open cut and the raw material can be upgraded to above 61-62% iron content with simple processing procedures. The minerals of this project have been analyzed and a report has been issued by SinoSteel Maanshan Research Institute from China. Nevertheless, an extensive exploration program will be carried by MMC in 2010. We will first complete a hydro survey and a ground magnetic survey and then drilling and samples gathering will be done. This Project has great potential to develop into a significant global iron sand reserve.
After an exploration report is completed by MMC, we will design a mining program and commence mining operation. We target to produce 100,000 tons of refined iron ore fines above 61-62% per month at the beginning and eventually increase to 2,400,000 tons annual production level.